Launch of share buyback programme

Mediobanca hereby gives notice that the share buyback programme authorized by the European Central Bank and by the Bank's shareholders as ordinary business at the Annual General Meeting held on 28 October 2024 will be launched on 12 November 2024.

The programme, which will involve up to a maximum of 37,500,000 ordinary shares (equal to approx. 4.5% of the company's share capital), and in any case may not entail a total outlay of more than €385m, serves the same purposes as the previous one: on the one hand, i) to encourage growth in EPS as an effect of the shares acquired being subsequently cancelled; and, on the other, ii) to finance potential opportunities for growth via acquisitions; and ii) for use in connection with Group staff compensation schemes, current and future, based on financial instruments.

The purchases will be made exclusively on regulated markets, and will be executed in accordance with the pricing and quantity limits set by Commission Delegated Regulation (EU) 2016/1052. Furthermore, the buy price may not be more than 10% lower or higher than the reference price recorded by the stock in the market session on the previous day, save in exceptional circumstances linked to market volatility.
The shares may be bought in one or more tranches in accordance with the regulations in force, and the acquisitions will be made within the limits on distributable earnings and available reserves as per the most recent financial statements approved, and in any case in accordance with the ECB authorization.

All transactions will be disclosed to the market on the terms and by the means set by the regulations in force.

The programme will be completed by 7 October 2025 (within twelve months of receipt of the ECB authorization).

For further details, reference is made to the Board of Directors’ report illustrating the proposal, and the resolution authorizing the buyback approved by shareholders at the Annual General Meeting on 28 October 2024, that are available on Mediobanca's website (section Governance/General Meetings/General Meeting 2024).

Milan, 12 November 2024